China BAK Battery, Inc. (CBAK)

[Ecomike]

I just rechecked some details on CBAK, now that we dropped under $1, to make sure I wanted to hang on or add more here.

Looking at Fidelity data, the Mutual funds and institutions have have been steady strong buyers of CBAK the last 2 quarters, and over 30% of the OS is owned by insiders who are not and have not been selling. Today's low was 40% of stock holders equity, book value per share, and losses have been steadily dropping quarter to quarter. They should go back to turning a profit this year!!!!

This is no nickel and dime China stock, the market cap at todays price is 23% of annual sales, and they have not been cooking the books, in fact they have reported losses as they wrote off bad debt and wrote down or wrote off old inventory the last 2 years, and tightened their operations, and raised prices (which is why their revenues dropped a few quarters back).

Book value is still over $2/share!!!